A Specialised Investment Fund (SIF) is a SEBI-regulated investment vehicle that bridges the gap between traditional mutual funds and Portfolio Management Services (PMS). SIFs are built for investors who want access to more advanced strategies and are comfortable with a significantly higher minimum ticket size than a regular mutual fund scheme.
₹10L
Minimum investment per investor (PAN level)
Key Features & Rules
Minimum Investment
₹10 lakh per investor, applied at the PAN level, across all SIF strategies offered within a single Asset Management Company (AMC).
Advanced Strategies
SIFs are permitted to use long-short equity positions, dynamic asset allocation, sector rotation, and unhedged short derivative exposure of up to 25% of assets — strategies not available to regular mutual funds.
Structure & Liquidity
Offered as open-ended or interval schemes. If a non-accredited investor's unit value falls below ₹10 lakh due to partial redemptions, it must be restored within 30 days, failing which the units face automatic full redemption.
Taxation
Follows a tax-efficient structure aligned with traditional mutual fund asset classes — for example, Equity LTCG is taxed at 12.5% after a holding period of 12 months.
Is a SIF Right for You?
SIFs are generally better suited to investors who:
- Can commit at least ₹10 lakh to a single AMC's SIF strategies
- Have a higher risk appetite and understand strategies like long-short investing and derivatives exposure
- Are looking for something more sophisticated than a standard mutual fund, without moving to full PMS ticket sizes
- Have a long-term investment horizon and can withstand higher volatility
SIFs involve higher risk and higher minimum ticket sizes than regular mutual funds. Please read the scheme information and other related documents carefully before investing.